Godrej Consumer Q3 profit jumps 13 percent to Rs 502 crore

By

Maverick Martins

Published
Feb 9, 2021

FMCG major Godrej Consumer Products Ltd (GCPL) reported a 13 percent rise in consolidated net profit at Rs 502 crore ($69 million) for December quarter 2020, as against a net profit of Rs 445 crore in the October-December period a year ago.

The company’s revenue for the quarter under review was up by 10 percent to Rs 3,055 crore, as against Rs 2,778 crore in the year-ago period.

GCPL’s total expenses for the quarter rose by 8 percent at Rs 2,435 crore, as compared to Rs 2,244 crore in the third quarter of 2019-20.

Commenting on the Q3 results, GCPL chairperson and managing director, Nisaba Godrej, in a statement said: “We delivered a second consecutive quarter of double-digit, profitable sales growth. Consolidated sales grew by 10 percent and EBITDA grew by 13 percent. We remain confident of leveraging growth opportunities and continuing this double-digit sales momentum in the medium term.
 
“We are investing behind consumer-centric innovations and focusing on serving consumers at all price points. Across channels too, we are making a shift, doubling down on digitisation and channels like e-commerce and chemists. We are also strengthening our supply chain operations and distribution capabilities,” Godrej added.
 
Godrej Consumer Products Ltd is owned by the billion-dollar firm Godrej Group and has a strong presence in the personal care and cosmetics market.